'Upsetting And Disappointing': BuzzFeed To Cut 15 Percent Of Its Workforce
The company announced the news in a memo to staff. The layoffs, which are expected to mean over 200 lost jobs, come at a tumultuous time — for BuzzFeed and the online media industry.
Updated at 12:35 p.m. ET
BuzzFeed has announced that it plans to lay off 15 percent of its overall workforce next week. In a message to employees on Wednesday, CEO Jonah Peretti explained that although revenue has grown rapidly, "unfortunately, revenue growth by itself isn't enough to be successful in the long run."
"The restructuring we are undertaking will reduce our costs and improve our operating model so we can
